Hackers Steal $140 Million From Users of Crypto Gaming Company (vice.com) 27
In the latest hack targeting cryptocurrency investors, hackers stole around $135 million from users of the blockchain gaming company VulcanForge, according to the company. From a report: The hackers stole the private keys to access 96 wallets, siphoning off 4.5 million PYR, which is VulcanForge's token that can be used across its ecosystem, the company said in a series of tweets on Sunday and Monday. VulcanForge's main business involves creating games such as VulcanVerse, which it describes as an "MMORPG," and a card game called Berserk. Both titles, like pretty much all blockchain games, appear chiefly designed as vehicles to buy and sell in-game items linked to NFTs using PYR. In crypto, compromising someone's private key is a definitive "game over," because it gives complete control over the funds held by the corresponding address on a blockchain.
And after..... (Score:1)
Most suspicious potential "hackers" (Score:2)
VulcanForge itself.
Like any other "hacking" of a super-secure cryptowallet.
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Judging from the news, cryptocurrency means "somebody stole my `money.'"
Does anybody know of any sort of scoreboard where I can see what percentage of cryptocurrency has been stolen at least once?
Damn summaries (Score:2)
They did not steal $135M from the users. They stole 4.5M PYR.
I have this same conversation with my parents when they see $10,000 "vanish" from their retirement portfolio.
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How much is that in Quatloos?
I think the money in this case was real (Score:2)
If this was just crooks being ripped off by other crooks I wouldn't be concerned, but the amounts of money being tossed around or attracting Wall Street speculators looking for a fast buck and if they start dabbling they're very quickly going to set up a fake market like what we had with the housing market in 2008 but worse because it won't ev
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Wall Street speculators don't cause crashes.
The 2008 financial crisis was caused by credit agencies lying about the credit rating of baskets of investments; saying that something was grade A low risk, when the whole basket was high risk. That caused a lot of otherwise-well-managed investment instruments to buy those baskets. That's why there was contagion.
Here, there is no risk of contagion. People know it is high risk, and if they lose their money, nobody cares. It won't cause banks to stop lending money
In future news ... (Score:5, Funny)
Researchers have discovered that all crypto-currency uses are now just cases of hackers stealing from other hackers.
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I wonder how profitable it actually is. The hackers have the stolen currency, but it's probably difficult to launder if it's controlled by this company. Plus it's value just plummeted anyway.
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It's teenage mutant hackers all the way down
Hello insurance company... (Score:1)
WTF is a (Score:4, Insightful)
..."crypto gaming" company? Something that dumb deserves to be pilfered. Seems they are just gluing buzzwords together to gain investors, or as a front for scams.
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a front for scams.
Isn't that the description for "crypto currency"?
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Somebody gave me a zero. Is that because expecting dividends from Ponzi schemes is "evil"? A lot of companies lie, spin, and/or cheat, though. Even if YOU don't directly invest in such stocks, your org's retirement plan likely does.
Mining coins is silly. (Score:2)
Far better to invest in mining associated vulnerabilities.
Remind me why (Score:2)
crypto is so awesome again?
crypto security (Score:3)
https://foreignpolicy.com/2021... [foreignpolicy.com]
I looked up Vulkanverse (Score:3)
Good... (Score:2)
The more this happens the sooner we can get some regulations on crypto and it may actually start to become useful for LEGAL activities beyond speculation.
It's the wild west in crypto land where you better hope you are not the last one holding the bag.
Lol (Score:2)
Is it even news anymore? (Score:4, Insightful)